HCMC – Despite a mild contraction of gold prices in foreign markets, the local market on Tuesday afternoon saw gold prices falling off the VND42 million/tael level and hit a record low this year due to increased selling.

Price of gold in Vietnam declined by VND150,000 per tael (1.2 ounces) over last weekend on May 7 as global price made correction after elections in France and Greece cast doubts on whether the eurozone would be able to ease the debt crisis.

Price of gold in Vietnam declined by VND150,000 per tael (1.2 ounces) over last weekend on May 7 as global price made correction after elections in France and Greece cast doubts on whether the eurozone would be able to ease the debt crisis.